EIB provides EUR 100 million in financing for advanced stainless steel manufacturing
February 25 2019 - 12:00PM
EIB provides EUR 100 million in financing for advanced stainless
steel manufacturing
Luxembourg February 25, 2019 (6:00 PM
CET) - The European Investment Bank (EIB) and Aperam announce
the signature of a financing contract where the EIB will make
available to Aperam an amount of EUR 100 million. The purpose of
this contract is the financing of ongoing investments in the cold
rolling, and annealing & pickling line at Aperam’s Genk plant
(Belgium) as well as the company’s ongoing modernisation programmes
in the cohesion regions of Nord-Pas-de-Calais (France) ̶
Isbergues plant, and Hainaut (Belgium) ̶ Châtelet plant.
Timoteo Di Maulo, CEO of Aperam, commented: “We
are pleased to announce this financing contract with EIB on
attractive financial terms. It will fully support Aperam’s top line
strategy and leadership journey. The Genk investment will further
facilitate the transformation of Aperam’s business with
state-of-the-art modern lines using the latest technology. This
will enlarge our product range to incorporate the most demanding
applications, which will improve lead time and flexibility to
satisfy market demand, increase the efficiency and cost
competitiveness of our assets, and continuously enhance our health,
safety and environmental impact. In keeping with our objective of
sustainability, this financing also contributes to our plan of
modernization of the industrial tools at our Isbergues and Châtelet
plants.”EIB Vice-President Ambroise Fayolle said: “The EIB is proud
to continue supporting Aperam in its plant modernisation
investments in France (Nord Pas-de-Calais) and Belgium (Châtelet)
and also now to contribute to upgrading its Genk (Belgium) plant
with advanced stainless steel manufacturing technology. Innovation,
at the heart of competitiveness, is the best response against the
challenges currently facing the industry and the EIB is there to
support it.”The EIB has made innovation a top priority and is keen
to partner with companies that push innovation to the forefront for
a growing economy. Aperam’s investment in its plants in Nord-Pas de
Calais and Hainaut makes it a partner of choice for the EIB.
Indeed, for the financing institution of the European Union,
supporting EU cohesion policy is also one of the EIB’s main
objectives and operations in these areas accounted for about one
third of its lending in 2018.
About Aperam
Aperam is a global player in stainless,
electrical and specialty steel, with customers in over 40
countries. The business is organised in three primary operating
segments: Stainless & Electrical Steel, Services &
Solutions and Alloys & Specialties.
Aperam has 2.5 million tonnes of flat Stainless
and Electrical steel capacity in Brazil and Europe and is a leader
in high value specialty products. Aperam has a highly integrated
distribution, processing and services network and a unique
capability to produce stainless and specialty from low cost biomass
(charcoal). Its industrial network is spread in six production
facilities located in Brazil, Belgium and France.
In 2018, Aperam had sales of EUR 4,677 million
and steel shipments of 1.97 million tonnes.
For further information, please refer to our
website at www.aperam.com
About the EIB
The European Investment Bank (EIB) is the
long-term lending institution of the European Union owned by its
Member States. It makes long-term finance available for sound
investment in order to contribute towards EU policy goals. In 2018,
the EIB Group dedicated EUR 64 billion to projects within and
outside Europe, contributing to EUR 230 billion of investments in
all sectors and targeting key priorities: supporting innovation and
skills, SMEs and larger companies, infrastructure projects and all
climate investments, engaging in the transition to a low-carbon,
environmental friendly and climate-resilient economy. For further
information on our priorities and impact, see
www.eib.org/projects/priorities
Contacts
Aperam:Corporate Communications / Laurent Beauloye: +352 27 36
27 103Investor Relations / Thorsten Zimmermann: +352 27 36 27
304
EIB:Sabine Parisse (Luxembourg), s.parisse@eib.org, +352 43 79
83340, mobile: +352 621 45 91 59Cyrille Lachèvre (France),
c.lachevre@ext.eib.org, +352 4379 73984, mobile: +33 6 20 42 12
08Website: www.eib.org/press, Press Office: +352 4379 21000 –
press@eib.org
Aperam (EU:APAM)
Historical Stock Chart
From Sep 2024 to Oct 2024
Aperam (EU:APAM)
Historical Stock Chart
From Oct 2023 to Oct 2024